Almondz Global Securities Initiates Strategic Demerger and Amalgamation Plan

Almondz Global Securities has announced a strategic plan to demerge its broking business into a new entity, Almondz Broking Services Ltd, which will be listed on the stock exchanges. The non-broking businesses will merge with Avonmore Capital. This move aims to enhance operational focus and unlock shareholder value.

In a significant corporate restructuring, Almondz Global Securities has unveiled plans for the demerger of its broking business into a newly created entity, Almondz Broking Services Ltd, which will soon be listed on stock exchanges. This transformation seeks to streamline operations and boost shareholder value.

The composite scheme of arrangement also involves the integration of Almondz Global Securities' non-broking ventures, along with several subsidiary companies, into Avonmore Capital & Management Services. This endeavor requires approvals from various regulatory bodies, including the National Company Law Tribunal and the Reserve Bank of India.

The restructuring is designed to enhance the operational focus of both the broking and non-broking businesses, allowing them to pursue distinct growth strategies. The amalgamation into Avonmore Capital aims to simplify the corporate framework, ease compliance measures, and consolidate financial services under one umbrella.

(With inputs from agencies.)